Note: US President Trump’s demands that allies stop importing Crude from Iran by 4 November this year could impact India as India and China fall under the major importers of Iranian Oil. Crude prices are trading higher now and likely to move higher near term.

ICE Brent Crude at 77.58, and NYMEX WTI Crude at 72.59 trading higher after the dip and consolidation. Brent has enough room to 80-82, while WTI will see resistance 76. Overall near term looks Bullish to me.

Gold at 1254.40 to test 1250-1240, then pause early next week. While the precious Yellow trades below 1270, Gold prices remain Bearish.

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.